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To: Stewart D. Mackie who wrote (108510)	9/17/2000 7:16:36 PM
From: Danny	Respond to of 164684

Me, easy buck? What gives you that kind of idea? I am one of few folks on this thread actually following some kind of disciplined investment strategy, instead of buying a stock and hoping to become a millionare the next day.

To: Stewart D. Mackie who wrote (108510)	9/18/2000 8:30:47 AM
From: Tatnic	Respond to of 164684

Just some comments in general about options: A no-cost collar (sell a OTM call, buy a OTM put) protects capital. But I believe one should focus more on selling time. And you needn't be loosing stock, just roll them over if necessary. For instance, if you own XYZ at $90 and sell $100 strike calls at $5, that's all time value which erodes at expiration. If the stock goes to $100 at exp. you've made $15 without breaking a sweat. If it goes to $105 you've still made $15 on the stock and can then roll the calls to the next best strike..i.e, buy the $100's back for $5 (breaking even on covering the short calls) and sell the $115 for $5~$6. More often than not you'll end up with the calls expiring worthless.